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Junk silver

From Wikipedia, the free encyclopedia

Junk silver. From top left: Silver dimes in paper holders, a roll of dimes and a mixed-loose lot of half dollars, quarters, dimes and "wartime" nickels.

Junk silver is an informal term used in the United States, United Kingdom, Canada and Australia for any silver coin which is in fair condition and has no numismatic or collectible value above the bullion value of the silver it contains. Such coins are popular among people seeking to invest in silver, particularly in small amounts. The word "junk" refers only to the value of the coins as collectibles and not to the actual condition of the coins; junk silver is not necessarily scrap silver.[1] Precious metals including silver are measured in troyounces (ozt). A spot price for silver is the price for a troy ounce of silver which is 99.9-percent pure, or 999 fine. Silver coins including junk-silver coins have set silver-alloy contents ranging from 35-percent to 90-percent or more. The term "coin silver," for example, refers to 90percent silver alloy which was the most common alloy used to mint silver U.S. coins. Any combination of 90-percent silver U.S. coins which have a face value of US$1.00

they were minted in either 80-percent or 50-percent silver.5-percent silver.Some Swedish coins with 80% silver content.6 troy ounces of silver. the "round" 50-cent coin contained 80-percent silver. The 1968 nickel coins are magnetic whereas the silver coins are not. particularly during periods of economic stability. Recognition Coins are familiar and less likely to have their value disputed than silver rounds or bars. In 1968. they were minted in either 50-percent silver or 100-percent nickel.00 face value containing . they were minted in "post-silver" coins which contained 50-percent silver. In 1967.[4]
Popularity
Junk-silver coins may be a desirable method of investing in silver for several reasons: Low premiums Coins can often be purchased for little or no premium over the spot price of silver.
Canadian quarter and dime coins minted before 1967 contained 80-percent silver with every CAD$1. sixpence and threepence coins minted from 1910 to 1945 contained 92. Legal tender Coins remain legal tender and maintain their face value regardless of the price of silver. Dollar and half-dollar coins contained 80-percent silver through 1967. Australian "pre-silver" florin. shilling. In 1966.
. From 1946 to 1964.

while fiat currencies have historically been subject to hyperinflation. has no inherent value and can be subject to extreme inflation.com).S. similar to Weimar Germany and. 154 junk-copper U.
. Retrieved 2009-08-10. temporarily or indefinitely.com). ^"Handy calculators for Australian silver coins". Unknown. ^"90% Silver U. Calif.Divisibility Coins can be easily spent or traded in small amounts. even hyperinflation. Prominent examples include U.
See also
Coin collecting
References
1. Monex (Newport Beach. In contrast. while minted gold bullion (and other precious metals) is highly valued in even small amounts. minted silver bullion is rarely smaller than a troy ounce.S. precious metals will always have inherent value and can act as a medium of financial exchange when fiat currencies are obsolete.S. like the American Gold Eagle coins. 2.com (Unknown: Coinflation. Coinflation.
Junk copper
Some coin collectors[who?] and investors are also informally using the term "junk copper" to refer to any copper-bullion coins of no numismatic value.: Monex Precious Metals). Silver Coin Melt Value Calculator". Retrieved 2009-08-07. Retrieved 2009-08-29. pennies contain a full pound of fine copper. which is not backed by precious metals or other commodities. pennies minted before 1982 (partial). Zimbabwe. Proponents of junk silver and other precious metals adhere to the principle that. In the event of a crisis or catastrophe during which traditional currency collapses. 4. ^"U. 3. Bullion Spot Price (Unknown: BullionSpotPrice. Silver Coins and Silver Rounds". For these reasons. Retrieved 2009-07-31. Unknown. more recently. Coin Bags". Unknown. Canadian pennies minted before 1997.S. Silver Stackers Forum (Australia: silverstackers. while fiat currency. it is speculated that silver coins could provide a viable alternative.com). junk silver is popular among survivalists. and some pre-Euro copper European coins. Unknown. ^ ab"Spot Prices for Silver Bars.

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